Franklin, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Franklin Neighborhoods Since 2000




Franklin, NC Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Franklin Housing Market Information

With 3,940 people, 1,870 houses or apartments, and a median cost of homes of $148,899, Franklin real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Franklin, accounting for 51.32% of the town's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments ( 23.98%), duplexes, homes converted to apartments or other small apartment buildings ( 14.27%), and a few mobile homes or trailers ( 7.99%).

People in Franklin primarily live in small (one, two or no bedroom) single-family detached homes. Franklin has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Franklin built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Franklin built between 1940-1969 ( 24.50%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.47%). There's also some housing in Franklin built before 1939 ( 8.71%).

Vacant housing appears to be an issue in Franklin. Fully 25.26% of the housing stock is classified as vacant. Left unchecked, vacant Franklin homes and apartments can be a drag on the real estate market, holding Franklin real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Franklin Home Appreciation Rates

Franklin's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Franklin during the period has been just -1.81%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Franklin's appreciation rate, at 4.45%, has been at or slightly above the national average. In the latest quarter, Franklin's appreciation rate has been -0.54%, which annualizes to a rate of -2.13%.

Notably, Franklin's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Franklin's latest annual appreciation rate is higher than 70% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Franklin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Franklin - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Franklin real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$148,899

Franklin, NC HOME PRICES

Value Range
> $1,051,000 0.2
$788,001 - $1,051,000 0.9
$526,001 - $788,000 1.2
$421,001 - $526,000 2.0
$316,001 - $421,000 5.5
$210,001 - $316,000 19.2
$105,001 - $210,000 39.7
$52,001 - $105,000 20.4
$0 - $52,000 10.9

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
50.5039259346068 43.1941923774955

Number Of Homes And Apartments:
1,870

Franklin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
22.40% 1.18% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$796 / per month

Homeownership Rate

Homeownership
Owners 50.86
Renters 49.14
Vacant 25.26

Housing Market Details

 

Age of Homes

AGE OF Franklin HOMES
2000 or Newer 11.5
1970 - 1999 55.3
1940 - 1969 24.5
1939 or Older 8.7

Types of Homes

TYPE OF Franklin HOMES
Single-Family 51.3
Townhomes 2.4
Small Apt. Buildings 14.3
Apt. Complexes 24.0
Mobile Homes 8.0
Other 0.0

Home Size

SIZE OF Franklin HOMES
No Bedroom 1.96
1 Bedroom 10.63
2 Bedrooms 44.36
3 Bedrooms 28.70
4 Bedrooms 12.35
5 or more bedrooms 2.00